Indegene Limited, a leading healthcare solutions provider, has announced its plans to launch its initial public offering (IPO) on Monday, May 6, 2024. The bidding period will run for three days, concluding on Wednesday, May 8, 2024.
The offer, priced between ₹430 and ₹452 per equity share, includes a fresh issue of equity shares valued at ₹760 Crore, as well as an offer for sale of up to 23,932,732 equity shares. Eligible investors can bid for a minimum of 33 equity shares and increase their bids in multiples of 33 equity shares. Additionally, a special reservation of ₹12.5 crore has been set aside for eligible employees, with a discount of ₹30 per equity share.
The proceeds from the fresh issue of equity shares will be used to repay and prepay the debts of one of its principal subsidiaries, ILSL Holdings Inc, and to meet the capital expenditure needs of another key subsidiary, Indegene Inc. Furthermore, the funds will be utilized for general corporate purposes and potential inorganic growth opportunities.
The IPO will be conducted through the Book Building Process, in compliance with SEBI ICDR Regulations and the Securities Contracts (Regulation) Rules, 1957. The company plans to allocate up to 60% of the Net Offer to Qualified Institutional Buyers (QIBs) and Anchor Investors in consultation with the BRLMs.
Following the IPO, the equity shares are expected to be listed on BSE and NSE, having already received in-principle approvals from Indegene Limited. The IPO is managed by reputed entities such as Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, J.P. Morgan India Private Limited, and Nomura Financial Advisory and Securities.
This IPO is a significant milestone for Indegene Limited, positioning the company for strong growth and expansion while offering a compelling investment opportunity for shareholders.
